The December figure consolidated the Consumer Price Index among the parameters expected by the Central Bank of Uruguay.
The inflation accumulated during the year 2023 totaled 5.11% after knowing the figure for the month of December, being within the target range established by the Central Bank of Uruguay (BCU)between 3% and 6%.
He National Institute of Statistics (INE) released today the latest estimated report of the Consumer Price Index (CPI) corresponding to last year, from which it follows that the inflation It had a negative monthly variation of 0.11% in the last month of 2023 (base period in October 2022) and the index number was established at 104.55.
During the year 2022, the inflation had remained above the target range, ending that year at 8.29%, despite the fact that prices experienced a decline of 0.26%, setting the index number at 99.47.
Monthly variation by division
In the breakdown by division, the main impacts on the monthly variation of the CPI come fundamentally from the divisions of “Food and non-alcoholic beverages” (0.25); “Housing, water, electricity, gas and other groceries” (fell 0.39); and “Transport” (fell 0.11).
The “Food and non-alcoholic beverages” division had a variation of 0.98% in the month; while “Housing, water, electricity, gas and other groceries” a negative 2.95%. On the other hand, the “Transport” category presented a negative variation of 0.98%.
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Core inflation was 4.46% in 2023
The Index of Consumer Prices excluding fresh fruits and vegetables, and fuels (IPC-CE) was 4.46% during 2023; after having suffered a negative monthly variation of 0.18% in the month of December, placing the index number (base in October 2022) at 103.93.
The CPI-CE does not take into account the evolution of fruits, vegetables and fuels with the aim of getting closer to estimating a inflation long-term. With this methodology, the INE seeks to make it “complementary” to the traditional CPI.
Source: Ambito
